This is probably a real close summary. I just can't understand how they didn't realize by the TDL that the season was trash and that they were going to need to answer for that and DO SOMETHING. Trading away a guy that just hit his prime amongst a FW group that struggled mightily, for a younger duplicate of their best D-men, shows that they really didn't have a good handle on the team or fan base. Thinking you have time for Krebs and prospects to fill that roster hole is just flat out being removed from reality, or stuck in whatever bubble they've been in.My estimation of what happened, at the TDL, Adams didn't want to commit to Mitts (because of the timeline he had at the time) just as you said. And he probably felt good about that decision as he felt he had time to mature Krebs into the Mittelstadt role (3C), so he felt comfortable making that decision, as he made mention at the time of the TDL of putting more responsibility onto Krebs.
But then I think Terry and Adams talked closer to the end of the year, one of the important games between post-TDL and end of the season, where the leash got extremely tight and Adams seat had a massive increase of heat applied to it. Hence, why the presser of Granato's firing was a completely different tone and had a different sense of urgency to it.
I think if Adams of the TDL had the knowledge that today's Adams had, I think he commits to Mittelstadt and doesn't trade him. I think at the TDL, he most likely thought he had more time, and so he made a hockey trade to get something for Mittelstadt.